Economics? Biggest loss is yet to come, experts say

The biggest economic impact to Friday’s lockdown of Greater Boston is yet to come, said Northeastern University economist and professor of public policy Alan Clayton-Matthews.

Dunkin’ Donuts shops were the only businesses with permission to open in Watertown, and residents throughout Greater Boston were urged to stay inside, so the region ground to a near-halt Friday.

In Boston the MBTA shut down and Bruins and Red Sox postponed their games.

Restaurants and universities were closed in response to the search for Boston Marathon bombing suspect Dzhokhar Tsarnaev.

It is difficult to tell the value of the economic loss, said Jon Hurst, president of Retailers Association of Massachusetts.

“Certainly it is hundreds of millions including retail, restaurants and lost office productivity,” he said in an email. “Could exceed a billion.”

Jim Fitzgerald, the owner of Fit-Z’s Bar and Grill on Main Street in Watertown, said Friday afternoon his bar is a place for people to hang out, but he planned to remain closed until told otherwise.

“Friday is the busiest day of the week for us,” Fitzgerald said. “My friends have called, different people have texted to see if we’re open. But I’m friends with cops, and they’ve told us it’s not a good idea to congregate.

“Friday’s are a busy day for us; so is the weekend, but it’s not worth the risk. Just in case.”

Most of the money lost to business in the short term can be made up, said Northeastern University economist and professor of public policy Alan Clayton-Matthews.

It isn’t unprecedented for businesses to close on workdays, economists said.